ECO 365T Final Exam
- Which of the following will cause a change in the demand for flashlight batteries?
- In economics, the steeper (i.e., more vertical) the demand curve is the more _______ it is.
- A surplus will occur when _____________
- A demand curve will shift to the left if the ______________.
- A(n) ________________ is a market structure with only a few sellers.
- A very important law in the history of American business that positively impacted the market economy by banning monopolies and restraints of trade was ______________?
- According to a supply curve, _______________.
- General Motors and Ford Motor Company are in what type of market competition ?
- A drop in the cost of technology will cause __________________.
- In principle, __________ have ultimate control over the U.S. economy
- The oligopolist will determine what quantity to produce at ____________?
- Which of the following best describes the term “resource allocation”? ECO 365T Final Exam
- Which of the following is considered to be the BEST example of perfect competition (pure competition) in today’s business environment ?
- What will luxuries tend to be, and what will necessities tend to be?
- If buyers’ incomes decrease, the demand curve will shift to the ____________, and the price will ______________